Boeing to Lay Off 10% of Workforce Amid Ongoing Strike

Boeing, a major player in the aerospace industry, is facing significant challenges as it grapples with financial losses and a strike that has severely impacted its production capabilities. The company announced on October 11, 2024, that it will lay off approximately 10% of its workforce, which includes executives, managers, and other employees. This decision comes after the implementation of temporary furloughs, which will now be suspended due to the impending layoffs. The strike has particularly affected the production of Boeing's most popular airline models, exacerbating the company's financial difficulties. In response to these challenges, Boeing's new CEO, Kelly Ortberg, communicated the layoffs to staff in a memo, indicating a shift in the company's operational strategy. The layoffs are part of a broader effort to stabilize the company amid ongoing production issues. Additionally, Boeing has decided to delay the rollout of its new 777X aircraft from 2025 to 2026, reflecting the impact of the current labor situation on its production timeline. Furthermore, the company plans to cease production of the cargo version of its 767 jet by 2027, following the completion of existing orders. This decision highlights Boeing's need to streamline operations and focus on its core products during a tumultuous period. The combination of layoffs, production delays, and strategic shifts underscores the significant challenges Boeing is facing in the current market environment. Overall, these developments signal a critical juncture for Boeing as it navigates labor disputes and seeks to regain stability in its operations.